News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • 🇵🇱 Employment Growth YoY (MAY) Actual: 2.7% Expected: 2.5% Previous: 0.9%
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 83.48%, while traders in France 40 are at opposite extremes with 75.51%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:🇵🇱 Employment Growth YoY (MAY) due at 08:00 GMT (15min) Expected: 2.5% Previous: 0.9%
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 1.32% Gold: 0.79% Oil - US Crude: -0.29% View the performance of all markets via
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.01% 🇪🇺EUR: -0.03% 🇦🇺AUD: -0.26% 🇳🇿NZD: -0.44% 🇬🇧GBP: -0.47% View the performance of all markets via
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: 0.07% Wall Street: 0.06% Germany 30: 0.00% France 40: -0.05% FTSE 100: -0.13% View the performance of all markets via
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
AUD/USD Catches Highest Price in 2 Years; What's Next?

AUD/USD Catches Highest Price in 2 Years; What's Next?

Jeremy Wagner, CEWA-M, Head of Education

Since May 19, the model we have been following implied an eventual retest of 79 cents. Now that prices have cleared the previous 12 month consolidation rising to the highest price in 2 years, what does the Elliott Wave model suggest?

The model we are following shows a major wave relationship near .7911 and a minor wave relationship near .7956. These two wave relationships appearing this close together may suggest a reaction lower is looming. Due to the structure of the pattern since September 2015, we can consider the whole corrective sequence higher complete, though it is a little early to confirm.

The Elliott Wave model we are following is a complex correction higher that began September 2015 as an expanded flat, followed by an ‘X’ wave triangle, followed by a zigzag.

The biggest clue about this complex correction is the ‘X’ wave triangle. We know from Elliott Wave theory that triangle patterns precede the ending move of the pattern at the next larger degree. The triangle pattern formed from April 2016 and ended in May 2017 at .7378. That suggests this move higher is a terminal wave to end the sequence that began September 2015.

(View webinar recording on triangle patterns, how to read them and how to trade them.)

AUD/USD Flat-Triangle-Zigzag Elliott Wave Complex Correction

Closer inspection of the May 2017 to current up trend, we are anticipating some type of A-B-C pattern. We can count a zigzag complete where the distance of wave C equals the distance at wave A at .7956.

(Learn more about zigzag patterns in this webinar recording on zigzags.)

If this pattern holds, then we can anticipate a large sell off to begin from nearby levels and retest 69 cents. Before we get excited about a bearish reversal, let us wait for price and sentiment to confirm a turn.

IG Client Sentiment is running at -2.73. If we see this number start to elevate and increase, then it would be symptomatic of a bearish turn in price that would line up with the Elliott Wave model. Learn how to trade with sentiment with our IG client sentiment guide.

Three DailyFX analysts selected the Australian Dollar as their top trade for 2017. Read pages 13, 18, 20 of DailyFX’s Top Trades of 2017.

---Written by Jeremy Wagner, CEWA-M

Discuss this market with Jeremy in Monday’s US Opening Bell webinar.

Follow on twitter @JWagnerFXTrader .

Join Jeremy’s distribution list.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.